Wednesday, 20 June, 2018

Tensions high as G7 Summit kicks off in Quebec

French president Emmanuel Macron gestures towards his dog Nemo Macron on New US Metal Tariffs Trade War to Hit American Workers First of All
Steven Clarke | 09 June, 2018, 04:37

The official described Merkel's suggestion as a "shared assessment and dialogue" mechanism, but gave no further details.

The paper says that Trump has been complaining that the two-day trip to Canada for the meeting with other world leaders is "a distraction" from his upcoming summit with North Korean leader Kim Jong Un in Singapore.

Leaders are reportedly considering excluding the USA from the traditional joint statement issued each year at the end of the G7 summit as a rebuke for Trump's punishing tariffs against the American allies.

It remains uncertain whether the leaders can even agree to a final communiqué.

Scheer says the solution to the problem lies in a renegotiation of the Safe Third Country Agreement between Canada and the United States.

Prime Minister Giuseppe Conte arrives in Canada for the G7.

The two spoke with media on Friday ahead of a private meeting - and the topic of tariffs inevitably came up.

The U.S. and the rest of the G-7 countries depend on each other for security and as economic partners, so the governments will have incentives to find some common ground. We have to change it.

"We will continue to demonstrate that we're interested in defending Canadian interests and, on top of that, it turns out I'm defending American interests because these tariffs they're putting forward are going to hurt American workers as well", Trudeau said Thursday.

Poundworld on brink amid talks with former Little Chef owner
Department store chain House of Fraser is close to unveiling a restructuring, which could come as early as Wednesday. The stores suffered a major rise in multi-million pound losses past year - rising from £5.4m to £17.1m in 2016/17.

Also new is an ongoing US federal investigation into whether Trump's associates co-operated in Russia's efforts to sway the 2016 presidential election.

In Paris, Macron's office said it wouldn't make sense and pointed out that the latest country to impose economic sanctions on Russian Federation was the U.S. Italy's new premier, Giuseppe Conte, tweeted that he agreed with Trump, saying: "Russia should go back into the G-8. Ask this great lady".

For his part, Trudeau has expressed his displeasure over the tariffs (which were invoked citing national security) saying that Canada and the US have had a great relationship over the years.

President Donald Trump speaks to reporters before leaving the White House in Washington, Friday, June 8, 2018, to attend the G7 Summit in Charlevoix, Quebec, Canada.

Trump also railed against French President Emmanuel Macron in a separate tweet.

But before leaving Washington, he made clear that he too has no intention of backing down on his plan to rebalance trade by imposing tariffs on steel, aluminum and other goods imported from U.S. allies.

The G7 summit in La Malbaie, Canada, is set to take place over Friday and Saturday. Stocks on global indexes mostly eased on Friday and the dollar was up slightly against a basket of currencies.

Investors are also concerned about the future of the North American Free Trade Agreement, which Trump has threatened to terminate. It could be with Canada, with Mexico, one-on-one agreement.

"Canada's position is absolutely clear that there are no grounds whatsoever with its current behaviour to let Russia back into the G7", Foreign Affairs Minister Chrystia Freeland told reporters as she listed Russia's annexation of the Crimea peninsula, interference in democratic elections and the poison-gas attack on a former Russian double agent and his daughter in Britain.

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